Most of the major Canadian players are trading on U.S. stock exchanges including the NYSE and NASDAQ. These companies include Canopy Growth (NYSE: CGC), Aurora Cannabis (NYSE: ACB) and Cronos Group (NYSE: CRON).
That’s because many top institutional investors won’t buy foreign-listed stocks. So, it’s no surprise that another major Canadian pot stock is seeking a U.S. listing.
Organigram (TSXV: OGI) just filed to start trading on the NASDAQ.
That news sent Organigram stock jumping 10% – hitting new all-time highs.
American cannabis stocks are using a similar approach called . . .
The Stealth IPO Crossover (click here for details).
Organigram is a major player in the cannabis industry.
During the last three-month period, the company was the No. 2 seller of cannabis in Canada (after top seller Canopy Growth).
Organigram generated nearly C$27 million in quarterly revenue.
Meanwhile, Organigram sold twice as much cannabis as competitor Aphria (NYSE: APHA).
Despite having far greater sales . . .
Organigram is valued at just $1.1 billion . . . versus $1.9 billion for Aphria.
Aphria’s listing on the New York Stock Exchange is one of the big differences. With shares trading on the Big Board, the pot stock is more liquid and accessible for institutional investors.
That’s why Organigram plans to start trading on NASDAQ within 30 days.
Organigram’s NASDAQ listing should attract new investors and increase trading in the stock. And this newfound attention should help close the valuation gap with the stock.
Undiscovered American pot stocks are using this same approach. . . quietly listing their shares on the U.S. market.
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Full story at Wyatt Investment Research
